411 Bank St - Apartments FOR SALE


Lodi, OH 44254
$395,000 USD
330-722-5002
411 Bank St, Lodi, OH for Sale
$395,000 USD
Apartments - FOR SALE
1/20
null | 9.01% Cap Rate

411 Bank St
Lodi, OH 44254


HIGHLIGHTS

  • Five-unit configuration consisting of one efficiency, three one-bedroom units, and one two-bedroom unit.
  • All utilities metered individually for streamlined tenant billing and energy responsibility.
  • Located in an Opportunity Zone, making the investment eligible for potential capital gains tax deferment benefits.
  • Optional adjacent parcel with retail/office shell and three-door garage available for additional investment upside.

OVERVIEW

This multifamily property presents an opportunity to acquire a five-unit complex located in the heart of Lodi, Ohio, within the Cloverleaf Local School District. The configuration includes three one-bedroom units of 300 SF each, one two-bedroom unit of approximately 588 SF, and one efficiency unit of about 300 SF. All apartments feature kitchens equipped with essential appliances, and each unit is separately metered for electric and gas. City water and sewer services are also independently metered, with individual hot water tanks per unit, making the property easier to manage and accountable for tenant utilities. Cooling is provided by tenant-owned window A/C units, while the landlord handles sewer, water, and trash services, as well as exterior upkeep. This offering includes the potential for adjacent parcel acquisition, which features a retail/office shell building of approximately 1,072 SF and an 800 SF three-stall garage, suitable for income diversification or redevelopment. With zoning classified as Multi-Use in the Village of Lodi, this property benefits from flexible zoning allowances catering to residential and certain commercial uses. Importantly, it is located within a federally designated Opportunity Zone, providing potential tax incentives for qualified investors. The property sits just off State Route 83, less than two miles from I-71, providing convenient regional access to cities like Medina and Ashland while maintaining a small-town residential appeal.

FOR SALE DETAILS

PRICE

$395,000 USD

PRICE/SF

$221 USD /SF

# OF UNITS

5

PRICE/UNIT

$79,000

CAP RATE

9.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1900

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

M-U

APN/PARCEL ID

015-26A-13-096

ASK ABOUT THIS PROPERTY

Sheila MiuGerspacher Real Estate GroupMore Info
330-722-5002

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Sheila MiuGerspacher Real Estate GroupMore Info
330-722-5002

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.